If firms in a monopolistically competitive industry are making an economic profit, then
A) some customers will exit the market.
B) some workers will leave the industry's labor force.
C) some firms will leave the industry.
D) new firms will enter the industry.
D
Economics
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Refer to Table 19-3. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals
A) $2,200. B) $1,600. C) $1,400. D) $1,200.
Economics
In real business cycle models, a change in willingness to work ________
A) is associated with productivity shocks B) causes a shift of the aggregate demand curve C) would violate the market-clearing assumption D) has no effect on potential output
Economics